Boeing 2007 Annual Report Download - page 43

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40
Consolidated Statements of Operations
(Dollars in millions except per share data)
Years Ended December 31, 2007 2006 2005
Sales of products $«57,049 $«52,644 $«44,174
Sales of services 9,338 8,886 9,447
Total revenues 66,387 61,530 53,621
Cost of products (45,375) (42,490) (36,858)
Cost of services (7,732) (7,594) (7,767)
Boeing Capital Corporation interest expense (295) (353) (359)
Total costs and expenses (53,402) (50,437) (44,984)
12,985 11,093 8,637
Income from operating investments, net 188 146 88
General and administrative expense (3,531) (4,171) (4,228)
Research and development expense, net of credits of $130, $160, and $611 (3,850) (3,257) (2,205)
Gain/(loss) on dispositions/business shutdown, net 38 (226) 520
Settlement with U.S. Department of Justice, net of accruals (571)
Earnings from operations 5,830 3,014 2,812
Other income, net 484 420 301
Interest and debt expense (196) (240) (294)
Earnings before income taxes 6,118 3,194 2,819
Income tax expense (2,060) (988) (257)
Net earnings from continuing operations 4,058 2,206 2,562
Net gain/(loss) on disposal of discontinued operations, net of taxes of $9, $5 and $(5) 16 9 (7)
Cumulative effect of accounting change, net of taxes of $10 17
Net earnings $«««4,074 $«««2,215 $«««2,572
Basic earnings per share from continuing operations $«««««5.36 $«««««2.88 $«««««3.26
Net gain/(loss) on disposal of discontinued operations, net of taxes 0.02 0.01 (0.02)
Cumulative effect of accounting change, net of taxes 0.03
Basic earnings per share $«««««5.38 $«««««2.89 $«««««3.27
Diluted earnings per share from continuing operations $«««««5.26 $«««««2.84 $«««««3.19
Net gain/(loss) on disposal of discontinued operations, net of taxes 0.02 0.01 (0.01)
Cumulative effect of accounting change, net of taxes 0.02
Diluted earnings per share $«««««5.28 $«««««2.85 $«««««3.20
See notes to consolidated financial statements on pages 44–76.
The Boeing Company and Subsidiaries